Nationwide basis levels steady up

Basis levels were mostly steady across the country this week. At the Louisiana Gulf, corn basis was mostly unchanged over the past week, while soybean basis managed a three-cent improvement.

For corn, basis levels along key river terminal markets were slightly weaker as barge rates inched up this past week. Along the Illinois, Missisippi and Ohio River terminals rates moved up about three cents a bushel causing basis bids paid to farmers to slip. In the western Corn Belt, corn basis did manage to improve slightly, especially in the Panhandle of Texas.

For soybeans, basis levels were more improved then corn. But like corn, soybean basis came under pressure along river terminal regions.

Basis levels were mostly steady across the country this week. At the Louisiana Gulf, corn basis was mostly unchanged over the past week, while soybean basis managed a three-cent improvement.